Max Financial Services Ltd (MFSL) on Wednesday said it has settled a tax dispute involving over Rs 123 crore under the government's 'Direct Tax Vivad Se Vishwas' scheme
Axis Bank, Max Financial Services shares gain up to 6.6% after lender raises stake in Max Life Insurance
Shares of Axis Bank and Max Financial Services on Tuesday gained up to 6.6 percent after the bank decided to raise its stake in Max Life Insurance to 30 percent
In a regulatory filing, Axis Bank said that the transaction is subject to approval of Reserve Bank of India (RBI), Insurance Regulatory Authority of India (IRDAI) and Competition Commission of India (CCI)
Japan's Mitsui Sumitomo Insurance to acquire 21.87% stake in Max Financial Services in share swap deal
MFS and MSI (a part of MS&AD Insurance Group Holding of Japan) are 73:25 joint venture partners in private life insurer Max Life Insurance Company of the Analjit Singh-promoted Max Group.
The last major deal done by Axis Bank was an acquisition of digital payments company Freecharge in 2017 for Rs 385 crore
Max Financial Services on Tuesday said it has not approached insurance regulator IRDAI with any proposal to sell 10 percent stake in its insurance subsidiary Max Life to Axis Bank
Analjit Singh to take over as chairman of Max Life and Max India; group president Rahul Khosla to be appointed as advisor
Khosla will also demit his role as Max Healthcare chairman once regulatory approvals for the transaction with KKR-Radiant are received.
New York Life picks up 2% stake in Max Financial Services for Rs 215 cr via bulk deals, open market buys
New York Life acquired 49,99,130 shares of MFS from Max Ventures Investment Holdings, a promoter group holding company, at Rs 429.50 per share in a bulk deal on Thursday.
Earlier this week, Max India had received shareholders' approval for amalgamation of Max Life Insurance Company with Max Financial Services
The boards of HDFC Life, Max Life, Max Financial Services and Max India decided to amalgamate their businesses to create a Rs 25,500-crore entity under the label of HDFC Life through a 3:7 share swap under which a Max shareholder will get three HDFC Life shares for every seven in an old share deal
Max Financial Services said the agreement provides for a mutually agreed exclusivity period for due diligence and discussions between the parties in relation to the proposed transaction
The appointed date for the demerger is 1 April 2015, and the demerger is expected to be completed within the next six to nine months.